There are currently 2385 active single family listings on the market in the Pikes Peak region compared to 2366 last year at this time, which is a .8% increase. Fewer listings, creates more demand which is driving prices up and helping homes sell faster. New listings on the market are down 3%. The average sales price was up 7.5% to $347,517 in July and Sales were down 3.3%. The median single family sales price is up 8.8% compared to July 2017 (same number of homes sold above as below).
There are 161 condo/townhomes on the market compared to 161 last year at this time, a 1.2% decrease. The median price for Condo/townhomes is up 13.5% to $218,000 and sales are down 7.8%.
Cumulative year to date sales for single family homes in 2018 are up .1% and the average price is up 10.8% over 2017. Volume is up 11% in 2018 for a total of $3,231,103,680 so far this year.
The market is still robust. This is a great time to sell and/or buy. It is also a great time to buy that investment property. Visit our website at www.lutherbenson.com to view all listings on the MLS.
Luther Benson Broker/Owner
Access Real Estate Professionals inc.